The advertising and information business is one of the fastest growing market segments. Each manufacturer of goods seeks to place advertisements about their products on the Internet, in newspapers and magazines, and thereby get additional customers.
Therefore, the business idea of publishing an advertising and information magazine is logical and, at first glance, promising. Indeed, advertising on the pages of a glossy magazine seems to be a prestigious, attractive and profitable business.
However, one must take into account the high competition among print media and the rather high risks associated with finding reliable advertising providers.
The implementation of the magazine’s business idea is closely related to the problem of recruiting good and bright staff. The successful development of the business will largely depend on how quickly, creatively and energetically the journalists and managers of the new magazine will act.
In addition, the success of the publication of an advertising and information magazine is directly related to the results of the preliminary marketing research , which provided key information for the publication of the magazine.
The magazine is published for readers, not for advertisers.
It is not enough to fill the pages of the magazine with advertising and try to offer such a publication to people, even if it is free.
The magazine should be interesting and readable.
Only in this case, advertisers will spend money on placing their advertisements in the magazine. Therefore, it is necessary to accurately determine the target audience of the journal, and then its subject matter.
Advertisers are very willing to place ads in specialized magazines, for example, devoted to hobbies. However, it is rather difficult to gain the necessary audience among fishermen and hunters in a small or medium-sized city. It is extremely unprofitable to publish a magazine with a circulation of several hundred copies. Advertisers are well aware of this situation, so working with them is not easy.
For an aspiring entrepreneur who decides to pursue a magazine business idea, the first step may be to publish an entertainment magazine that has many sections devoted to different topics.
In such a magazine, you can easily place advertisements on various topics. In addition, such magazines are popular among the population and may be of a small format.
Income from the implementation of the business idea of the journal can be obtained from two sources.
The first and main source is advertising, which will be placed by customers.
The second source of income is the sale of the magazine at retail prices.
However, it should be taken into account that high competition among printed publications usually does not allow a novice entrepreneur to receive income from the sale of a magazine. Until the magazine gains popularity, it will have to be distributed for free, or to invest incredible money in advertising.
Therefore, when planning a business, it is necessary to take into account the high share of the initial costs of publishing a magazine, which will be paid off solely through advertising.
Advertisers, in order to attract them to the publication of an unknown magazine, will have to provide solid discounts at the first stages, which will reduce the overall profitability of the magazine. That is why marketing research is a necessary part of the magazine’s business project.
Recently, a large number of people get their basic information from the Internet.
The implementation of the business idea of the magazine can be promoted in two ways:
- in the printed edition;
- on the website.
Thus, an entrepreneur, having one staff of journalists, can promote his publication both electronically and in print. Thus, you can increase the attractiveness of the publication for advertisers, and get additional income.
In any case, you must also remember the costs of creating and maintaining distribution channels. A printed magazine, before it reaches the reader’s hands, must somehow be delivered to him. This can be done either through a distributor that delivers the magazine to the mailboxes of the population and enterprises, or through the organization of special distribution channels, for example, through the placement of special racks in stores, shopping centers and corporate offices. And this will require additional costs, which must be taken into account when marketing research and preparing a business plan .
To create your own magazine at the first stage, you should not organize your own printing house. To print the magazine, you can use the services of existing printing houses, and not necessarily in your city. Large printing houses will gladly accept an order for the publication of a magazine, but, of course, you will have to pay money for this.
Nevertheless, if a new, bright edition interesting for readers appears, the business idea of the magazine can be the basis for creating its own publishing house.